Australian Dollar Weakens on US Dollar Amid Hawkish Fed Sentiment
The Australian Dollar (AUD) extended its decline for the third straight day against the US Dollar (USD), with the AUD/USD pair hovering near a two-year low following domestic economic data, along with China’s CPI inflation report released on Thursday (January 9). Traders now focus on Friday’s US Nonfarm Payroll (NFP) report, for additional policy direction insights.
Australia’s trade surplus rose to 7.079 million in November, surpassing estimates of 5.750 million and the previous reading of 5.670 million (revised from 5.953 million). Exports increased by 4.8% month-on-month (MoM) in November, up from 3.5% (revised from 3.6%) in October. Meanwhile, imports grew by 1.7% MoM in November, compared to 0% (revised from 0.1%) in the previous month.
Source: FXStreet